
Say #sorrynotsorry to your spreadsheets and shoeboxes. This makes Wave unable to handle taxes in countries like Australia where prices must be quoted inclusive of all taxes, such as GST. There is no way to set an invoice total and have Wave calculate the tax portion as a percentage. Wave acquired a company called Small Payroll in November 2011,[8] which was later launched as a payroll product called Wave Payroll.
Best Accounting Software for Small Businesses of 2024
FreshBooks has an excellent mobile app that allows you snap photos of receipts, send invoices and track mileage. With a Wave Pro subscription, you’ll have recurring billing and other automation features. Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders. Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow.
Money management app on iOS and Android
Ready to invoice in style, bookkeep less, and get paid fast? “It’s not just a cool piece of software, it is giving peace why would a cash account have a credit balance of mind to people.” You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.”
Customizable invoicing
Wave also offers paid products for payroll, coaching and mobile receipt scanning. Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable payments. Customers can click a Pay Now button on invoices and pay instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay.
App support
Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget. The financial management software is user-friendly and equipped with all the basics, including income and expense tracking, invoicing and reporting. Approval to use online payments is subject to eligibility criteria, including identity verification and credit review. You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments. Set up recurring invoices and automatic credit card payments for your repeat customers and stop chasing payments.
Wave Accounting at a glance
Wave invoices are integrated with our free accounting software, so payments are recorded and categorized for you – which means less bookkeeping and tax season prep. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software. For example, QuickBooks Online doesn’t have a free plan, but offers four paid plans, each with additional features, making it a great choice for scalability.
It’s always available, and it’s backed up for extra peace of mind. We built our payroll tool for small business owners, so it’s easy to use AND teaches you as you go. David Axler is the Chief Strategy Officer, focusing on formulating, communicating, and fulfilling Wave’s initiatives and future goals. With over five years at Wave, David brings an enthusiastic what is the reason for pooling costs a to shift costs from low leadership style and unyielding service to our customers. Prior to Wave, David was a GM and Chief of Staff at a B2B technology company, Influitive, and was previously a management consultant with Deloitte. A graduate of the Rotman School of Management at the University of Toronto, he has a wealth of experience knowledge in business strategy and growth.
- Automate overdue reminders, set up recurring bills, and add notes or terms of service with ease.
- Email invoices with a secure “Pay Now” button after you’ve enabled the online payments option.
- Wave has helped over 2 million North American small business owners take control of their finances.
- Wave invoices are integrated with our free accounting software, so payments are recorded and categorized for you – which means less bookkeeping and tax season prep.
- Zahir has always had a passion for small business and enabling financial access for all.
With the higher-tier QuickBooks plans, you have access to inventory management, billable expenses and project profitability tools, none of which are offered with Wave. Wave’s accounting software is built for small business owners. Be your own accountant, thanks to Wave’s automated features, low cost, and simple interface. Visit your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre.
It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point. After creating your account, everything is set up so you fundraising event budget template can get started. Your data is always available, and backed up for extra peace of mind. Monitor your cash flow, stay organized, and stop sweating tax season.
For example, the rate a freelance web developer charges may be different than that of a freelance graphic designer, because each freelancer specializes in a different area. Sign up for Wave and send your first invoice right away—it only takes a few minutes! With the Pro Plan you can also set up recurring payments, auto-reminders, and deposit requests to make sure you always get paid on time. When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices.

Deposits are sent to the debit card linked to your account in up to 30 minutes. Deposit times may vary due to processing cutoff times or third party delays. However, like most products with free plans, Wave has its limitations, especially compared to more scalable small-business accounting software. Although Wave’s paid plan offers additional features, it’s still missing some more advanced capabilities, like built-in inventory tracking and audit trails, that growing businesses might need.
We encourage you to research and compare multiple accounting software products before choosing one. While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors. This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work. With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. Bank data connections are read-only and use 256-bit encryption.
You’ll receive the money in your account in 1 business day (Canada), or 2 business days (US)1. Zoho Books offers a robust free plan, along with a range of paid plans that feature workflow automation. FreshBooks is an affordable option for freelancers and small service-based businesses that operate mostly on the go. Moreover, you can integrate QuickBooks with hundreds of third-party tools available in the app marketplace.
Wave’s invoicing software for small businesses removes the worry of making these errors because calculations are done for you, including the taxes. The Wave app lets you easily generate and send invoices to your clients wherever and whenever you need to. All your invoicing and payment information automatically syncs with Wave’s accounting feature. Every invoice paid means more revenue coming into your small business. Create and send professional invoices to your customers in seconds. With the Pro Plan, automatically import, merge, and categorize your bank transactions.






